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Ministers urged to scrap student loan interest.

Ministers urged to scrap student loan interest.

Scrapping interest on student loans and extending the time limit on paying it back could help to avoid a future debt crisis, a centre-right think tank says.

The UK 2020 report said the measures would "bring down costs" for students and graduates.

Changing payback time limits from 30 to 50 years could also save billions of pounds of taxpayers' money, it said.

Ministers are reviewing the student finance system. They said sustainable university funding was a priority.

The PM recently abandoned an increase in tuition fees due next year, announcing a review of the whole student finance system in England.

Those graduating from university in summer 2017 left with an average debt of £50,000, according to estimates from the Institute for Fiscal Studies.

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